Anavex Life Sciences Corp (AVXL)

[123tom]

The way the price has tumbled down... I think we are looking now at a changed chart pattern. The upwave pattern has been broken and we might be watching a Range pattern developing. The plunging drop from 10/9.50 to the 5.88 /6.00 pivot low is being retested now ,to end the week at 6.00. Resistance looks like 6.50-7.00 area, and from there, at overhead resistance, if we see rallies fail there and bounce down... 6.50 could travel down to 4.50 and 4 dollars. The 4's are on the playing field now, in my view. Basic range is 4 to 8 ,, and the other range pattern, IF this 6 dollar area does hold, I'd be watching if the range pattern would climb back to 10 again.
How many months now do we wait for some good news to stop this downwave ?